Data Source: NCUA, December 31, 2016
ELY Area Credit Union was founded in 1938. Headquartered in ELY, Minnesota, ELY Area Credit Union is a state chartered and federally insured credit union, being chartered in Minnesota and insured through the National Credit Union Share Insurance Fund (NCUSIF). ELY Area Credit Union is also a member of the Federal Home Loan Bank (FHLB), which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.
As of December 31, 2016, ELY Area Credit Union services 4,466 members through its 2 offices and branches and 9 full-time and 1 part-time employees. It has $38,460,389 of total assets and $4,955,808 of net worth. Based on its asset size and net worth ratio, ELY Area Credit Union is classified as a Well Capitalized medium small credit union.
ELY Area Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. ELY Area Credit Union also provides an array of services to its members and local communities. To find out more, please go to the Services page.
The following two tables list the deplitory and loan interest rates of ELY Area Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Minnesota and in the nation.
Major Deplitory Accounts and Interest Rates (%)
Major Loan Accounts and Interest Rates (%)
ELY Area Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, and ATMs. The table below lists the electronic banking services prlided by ELY Area Credit Union.
Electronic Banking Service Offerings
As a community financial institution, ELY Area Credit Union actively involves in local communities by prliding services such as first tim home buyer programs.
Community and other Service Offerings
24 Commerce Rd
Babbitt, MN 55706
2 E Chapman St
Ely, MN 55731